Record home-price gains zapping mortgage insurance
Record home-price gains zapping mortgage insurance
Ali Elahi, one of my firm’s clients, doubled down and won big, saving $800 in monthly mortgage payments by twice lowering his mortgage rate and shedding his mortgage insurance.
Elahi paid $375,000 for his Laguna Hills condo in 2018. As rates were dropping and his equity was increasing, he was able to knock $400 off his monthly payment by refinancing in 2019. But he didn’t have quite enough equity…